Interim

Enron Corp.’s interim CEO Stephen Cooper presented a formal draft to move the company’s core energy assets out from under the Chapter 11 reorganization and instead spin-off a business unit with three segments: transportation services, power distribution, and generation and production in North, Central and South America. The proposal, which would separate the core asset portfolio from the bankruptcy estate, could be completed this year, Cooper said, if the unsecured creditors’ committee and the judge overseeing the case approve.

As an interim measure, the Cal ISO board last week approved (ona 13-10 vote) a load differentiated price cap that was promoted bya consumer advocate representative on the badly splinteredstakeholder board. The action drew swift criticism from generators.

As an interim measure prior to California’s state-charteredelectric transmission grid operator (Cal-ISO) making longer-termchanges, its board of governors adopted by a 13-10 vote lastThursday a load differentiated price cap promoted by a consumeradvocate representative on the badly splintered stakeholder board.The action drew swift criticism from generators through theirWashington, DC-based association.

TransCanada PipeLines, led by interim CEO Doug Baldwin, unveiled a new organizational structure Friday, aimed at “building greater value for shareholders from its pipeline, power generation, midstream and marketing infrastructure across Canada and the northern tier of the United States.”

TransCanada PipeLines, led by interim CEO Doug Baldwin, unveileda new organizational structure Friday, aimed at “building greatervalue for shareholders from its pipeline, power generation,midstream and marketing infrastructure across Canada and thenorthern tier of the United States.”

In an interim decision on retail gas competition last week,Connecticut regulators bowed to pressure from marketers by loweringbalancing penalties, allowing imbalance trading and ordering thestate’s three LDCs to provide a monthly economic comparison ofvarious cash-out methodologies.

In an 11th-hour move yesterday, California regulators delayeduntil August a proposed interim action that would expand naturalgas unbundling and set an aggressive schedule for a final gasrestructuring decision by year end. The proposal, which includesunbundling billing and eliminating any restrictions on current gasaggregation among residential and small business customers, will beconsidered when the California PUC meets again Aug. 6.